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2010()9014 TRANSFER O� RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions arui modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys tn "['rustee, in trust, with power of sale, the following described property located in the ...................................................R��i�SZER.Of.4�kUS..................................................... of �Type of Recording Jurisdiction] HR44........................................................................................ (Name of Recording Jurisdiction] LOT THREE (3►, BLOCK 51X (6►, IN KAY UEE SUBQIVSION, IN THE CITY OF GRAN� ISLANQ, HALL COUNTV, NEBRASKA which curr�ntly has the address of . .......... .......... 2207 QEL MAR AUE .. ........................................... ......................... ...�streetl ... ,GRANU ISIAN� .......................... . Nebraska ...................6�$Q3..................... ( r pe ty Address"): ....................... . � "P o r [City] [Zip Code] TOGF.THER Wl'I"H all the unprnvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregc�ing is referred tn in this Security lnstrument as the "Froperty." BORROW�,R COVF,NANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant anci convey the Property and that the Property is unencumbered, except for encumbrances of record. Barrower warrants and will defend generally the title to the Froperty agau�st all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUM�NT carnbines uniform covenants for national use and non-uniform covenants with limited variations hy jurisdiction to constitute a uniform security instrutnent covering real property. UNIFORM t:OVENANTS. Borrnwer and Lender covenant and agree as follows: 1. Payment of Principsil, Cnterest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay wh�n due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Seccion 3. Payments due undex the Note and this Security instrument shall be made in U.S. currency. I-�owever, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Nnte and this S�curity Instrument be made in one or more of the following fortns, as selected by Len�r-:- Fa) cash; (b) mone� order; (c) c�-rt�fied-c�ec:k banic chesk, creasurer's check or cashier's cYieck, prnvided any such check is drawn upon an ix�stitutinn whose deposits are insured by a federal agency, instrumentaliry, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by L�:nder in accordanc� with the notice provisions in S�ction 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bting the Loan current. Lender may accept any payment or partial payment insuFficient to bring the Loan current, without waiver of any rights hereunder ar prejudice to its r►ghts to refuse such payment or pardal payments in the future, but Lender is not obligated to apply such payments at the time such payments ar� accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied f'unds antil I3orrower makes payment to bring the Loan current. Tf Borrower does not do so within a reascmable period of tune, I.ender shall either apply such funds or return thetn to Borrawer. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note unrnediately prior to foreclosure. No offset or claim which Borrower might have now or m the future against Lender shall relieve Borrower frorn making payments due under the Note and fhis Security Instrum�nt or performing the c��venants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under th� Note; (c) amounts due und�r Section 3. Such payments shall be applied ta each Perindic Payment in th� order in which it became due. Any remaining amounts shail be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balane� of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, tht payment tnay be applied to the delinquent payment and the late charge. If more than one Periadic Payment is outstanding, Lendtr may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can bc: paid in full. To the exf�n[ that any excess exists after the paytnent is applied to the full payment of nne or more Periodic Yayments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first tc� any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Iterns. Borrower shall pay to L�nder on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due far: (a) taxes and assessments and other itcros which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Yrc�perty, if any; (c) premiums for any and all insurance required by Lender under Sectian 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance wilh the provisions of Section 10. These items are called "Escrow Items. " At origination or at any time during the term of the Loan, L�nder may require that Community Association Dues, Fe�s, and Assessments, if any, be escrowed by Borrower.; and such dues, fees and assessments shall be an Escrow Item. $orrower shall promptly furnish to Lender all notices nf amounts to be paid under this Sc:ction. Borrc�wer shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds fc�r any or all Fscrow Items. l,ender may waive Barrower's obligation ic� �ay to I,ender Funds fnr an� or all �scrow Items at any tune. Any such waiver rnay nnly be in writing. In the event of such waiver, Borrower shall pay drrectly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to I.ender receipts evidencing such payment within such tune period as Lender may require. Barrower's obligation to rnake such payments and to provide receipts shall for all purposes b� d�ern�d to tx: a covenant and a�reement contained in this Security Instrument, as the phrase "covenant and agreement" is used in S�etion 9. If Iiorrower �s obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INS7RUIVI�NT Form 3028 1/01 Bankers Systems, Inc., St. Cloud, MN Form MD-1-NE 8/17/2000 (page 2 Df 7pages)